PODCAST: Romney's '47 percent' and oil prices
Tuesday, September 18, 2012 - 09:39 David Calvert/Getty Images Republican presidential candidate, former Massachusetts Gov. Mitt Romney addresses the crowd at the 134th National Guard Association Convention at the Reno-Sparks Convention Center, September 11, 2012 in Reno, Nevada. The morning mystery: What going on with oil? Mid-day yesterday oil prices dropped three dollars in about a minute -- and they have kept falling ever since. So far today they're down another quarter percent. Was this a computer error -- or someone's "fat finger" on the button, as they say. Or is oil falling for a reason? Far out in the future, the context changes even more as oil wells start to dry up. A few researchers and entrepreneurs in Texas see a chance to recycle old wells and create plenty more energy. FedEx says the declining global economy will eat into its profits for the rest of the year. FedEx is down more than 2 percent in early trading. Huge sales of Apple's iPhone 5, though, might lead to good news ...
Attention JC Penney Shoppers, Look Out for the Return of ‘Sales Galore’
After months of abysmal sales tallies, the Ron Johnson era is over at JC Penney. Now that Johnson’s “fair and square” no-coupons pricing policies have proved to be a failure, the department store will have to try something else to win back customers and stop the bleeding. But what? Mike Ullman, who was replaced as CEO when Johnson took over at JC Penney in 2011, and who began serving again as top executive when Johnson was pushed out, told the Wall Street Journal that he wasn’t planning on reverting to the old business model. “I wouldn’t recommend that we go back to the way J.C. Penney was when I left,” he said. “Things change.” And yet, in some ways the department store is clearly trying to resemble the JC Penney of old. Management has already announced that newspaper ads will feature coupons once again. Johnson seemed to find coupon usage distasteful and silly, likening it to a drug that consumers needed to be weaned off. A little over a year after JC Penney went “drug-free,” ...
Can J.C. Penney’s Ullman pull a Steve Jobs?
J.C. Penney tried to steal some of Apple’s magic when it poached Apple retail guru Ron Johnson to be its CEO. And the company seems to be trying again with Myron “Mike” Ullman, the retailer’s once and future CEO.
Market Extra: Yahoo rebounds as Mayer leads mobile push
Improved business trends, small acquisitions and reports of talks with Apple have fueled enthusiasm for Yahoo under new CEO Marissa Mayer ahead of next week’s earnings report.
Outside the Box: Why Ron Johnson’s Apple magic failed J.C. Penney
When J.C. Penney Co. hired Ron Johnson as CEO from Apple Inc. in November 2011, the company was looking for a dramatic creative transformation. Innovation expert Keith Sawyer looks at why Johnson’s golden touch didn’t work for the retail chain.